Why Bharat Electronics Share Price Gained Despite Weak Market Conditions?


by Sandip Das on 14 February 2024,  3 min read

Why Bharat Electronics Share Price Gained Despite Weak Market Conditions?

The share price of Bharat Electronics Limited (BEL) gained over 2 percent in weak market conditions on February 14, 2024. This comes after the company received a Rs 2,167.47-crore order from the Indian Navy.

Navaratna DPSU Bharat Electronics Limited (BEL) signed a contract for a value of Rs 2,167.47 crore with Indian Navy on February 13, 2024 for the supply of state of the art indigenously designed and developed EW suite for use on-board warship. This EW suite is a big leap towards the Aatmanirbhar Bharat initiative of BEL, the company said in an exchange filing.

Since the last disclosure on January 30, the company has also received orders worth Rs 114.59 crore. The orders included the supply of SDRs, HD VLF receivers, EVMs, etc.

Also read: Entero Healthcare Solutions IPO: Retail Portion Booked 1.33 Times, QIB Portion Subscribed 2.28 Times

In the current financial year, Bharat Electronics Limited has received cumulative orders of Rs 30,776.06 crore.

Earlier this month, the company signed a contract with the Indian Air Force for the procurement of Light Weight Man Portable modern communication sets.

In Q3FY24, the company posted a 40 percent jump in its net profit at Rs 859.6 crore. This was in comparison to last year’s Rs 613 crore.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.

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